TORONTO, ONTARIO -- (Marketwired) -- 06/12/15 -- Inspiration Mining Corporation (TSX: ISM) (the "Corporation") would like to provide an update with respect to its various property holdings.
Langmuir Property
In 2010, Micon International Limited ("Micon") completed a National Instrument 43-101 compliant resource estimate report for the Langmuir North Deposit and the Langmuir No 1 Deposit. This report contained certain errors. As such, the Corporation has prepared and filed a National Instrument 43-101 compliant resource estimate report for the Langmuir North Deposit and the Langmuir No 1 Deposit (the "Revised Micon Report"). A copy of the Revised Micon Report can be viewed under the Corporation's profile on the SEDAR website (www.sedar.com).
The Revised Micon Report corrects certain errors contained in the original report. The Revised Micon Report has retracted certain disclosure regarding the exploration target and removed disclosure contained in a footnote that could be interpreted to mean that an additional undisclosed inferred resource exists or that the exploration target disclosed in the report is being treated as an inferred resource.
In addition, the Corporation would like to retract the disclosure of exploration targets on the Langmuir North Deposit and the Langmuir No 1 Deposit as set out in the Corporation's press release dated April 3, 2013.
Llamara Project
The Corporation has erroneously disclosed certain resource estimates and economic projections pertaining to the Llamara project that is not in compliance with National Instrument 43-101. Therefore, the Corporation would like to retract all such information as such information should not be relied on. Individuals should only rely on the information contained in the National Instrument 43-101 report for the Llamara project dated February 18, 2013 with an effective date of January 31, 2013 for information pertaining to the Llamara project . A copy of report can be viewed under the Corporation's profile on the SEDAR website (www.sedar.com).
The Corporation's management discussion for the fiscal year ended September 30, 2014 and for the three (3) months ending December 31, 2014 and the annual information form for the fiscal year ended September 30, 2014 contained disclosure regarding to resource estimates and economic projections for the Llamara project. As these disclosures should not be relied upon, the Corporation will amend such management discussion and analysis and annual information form and will refile same.
In addition, the annual information form for the fiscal year ended September 30, 2014, contained certain disclosure pertaining to the Isabel-Cote-Enganadora properties. Such disclosure was done in error as the Corporation does not have any ownership interest in such properties and any such information regarding these properties should not be relied on. The amended annual information form will delete all such information.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
Contacts:
Inspiration Mining Corporation
Randy Miller
Chief Executive Officer
416-842-9000
www.inspirationmining.com
